Caroline Ellison, former CEO of Alameda Research and ex-girlfriend of FTX founder Sam Bankman-Fried, has been sentenced to two years in prison for her role in the crypto exchange's collapse. She was ordered to forfeit $11 billion.
steal $8 billion in customer funds, was sentenced to two years in prison on Tuesday and made to forfeit $11 billion for her role in the fraud.
The relatively light sentence—as Ellison’s charges carried a maximum sentence of 110 years—comes after she testified against Bankman-Fried, who was sentenced to 25 years in prison for the fraud that led to FTX’s sudden collapse in Nov. 2022.U.S. District Judge Lewis Kaplan to hand down a lenient sentence for Ellison, citing her “extraordinary cooperation” in the case against her boss and former boyfriend.
Ellison told the court Tuesday that it was a “relief” to fully cooperate with prosecutors and delivered an apology for her actions. “When I started working at Alameda, I don’t think I would have believed it if you told me that a few years later I would be sending false balance sheets to our lenders or taking customer money,” shein court last year. “But over time it was something that I became more comfortable with when I was working there.”
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